slides_Ch5_W[1]

C7 means that the distribution of wn becomes more and

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Unformatted text preview: stimating as we let the sample size " inde…nitely. (C.7) means that the distribution of Wn becomes more and more concentrated about θ which roughly means that for large n, Wn is less and less likely to be very far from θ . Melissa Tartari (Yale) Econometrics 5 / 27 Consistency: A Review II Consistency: Sampling Distribution of Wn for 3 sample sizes fWn ( w) p limWn = θ n=40 n=16 n=4 w θ Melissa Tartari (Yale) Econometrics 6 / 27 Consistency: A Review III Consistency is a property of point estimators. Melissa Tartari (Yale) Econometrics 7 / 27 Consistency: A Review III Consistency is a property of point estimators. If an estimator is not consistent (inconsistent) it does not help us learn about θ even with an unlimited amount of data (for this reason consistency is a minimal requirement of an estimator). Melissa Tartari (Yale) Econometrics 7 / 27 Consistency: A Review III Consistency is a property of point estimators. If an estimator is not consistent (inconsistent) it does not help us learn about θ even with an unlimited amount of data (for this reason consiste...
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